M&T Bank Corp Raises Stock Holdings in AT&T Inc. (NYSE:T)

M&T Bank Corp raised its position in shares of AT&T Inc. (NYSE:T) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,053,591 shares of the technology company’s stock after purchasing an additional 11,895 shares during the quarter. M&T Bank Corp’s holdings in AT&T were worth $23,178,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC lifted its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of AT&T in the 3rd quarter valued at about $25,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. Finally, American Capital Advisory LLC raised its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of several recent research reports. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein assumed coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 price objective for the company. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. UBS Group lifted their price target on AT&T from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Barclays increased their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $25.53.

AT&T Price Performance

T stock opened at $22.75 on Friday. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $163.24 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The business has a fifty day moving average of $22.61 and a two-hundred day moving average of $20.74.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the company earned $0.64 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.88%. AT&T’s dividend payout ratio is currently 90.24%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.